Encana to Sell Northern Louisiana Natural-Gas Assets for $850 Million

The Calgary company will use the proceeds to pay down debt

Encana Corp. on Tuesday said it had agreed to sell all of its Haynesville natural-gas assets in northern Louisiana for $850 million, to a joint venture formed by GeoSouthern Haynesville LP and funds managed by GSO Capital Partners LP.

The Calgary, Alberta-based oil and gas company said it would use the proceeds to pay down debt.